Taiwan Liposome Company, which is developing lipid formulations of approved drugs for pain and eye disease, announced terms for its US IPO on Monday. The company is currently listed on the Taipai Exchange under the symbol 4152.
The Taipei City, Taiwan-based company plans to raise $35 million by offering 4.7 million ADSs at a price of $7.46, the as-converted price of two shares of common stock. At that price, Taiwan Liposome Company would command a fully diluted market value of $246 million.
Taiwan Liposome Company was founded in 1997 and booked $2 million in revenue for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol TLC. Cantor Fitzgerald is the sole bookrunner on the deal.
